International accounting and financial reporting standards and profitability in SMEs. MIPRO Manta

Abstract

SMEs in Latin America and the world, represent being the important actors not only for the growth but also for the development of the countries and mainly of the so-called third world or developing countries; These productive units have the characteristics of being heterogeneous as well as flexible in their access to markets, good practices, sources of financing, technologies and human talent, as well as being linked vertically and horizontally with other similar ones; however, many times these factors have affected their productivity, coverage, decision-making and growth potential, due to their low profit generation and therefore profitability. In this way, knowledge about the economic activities of SMEs, the application of accounting tools and their effects on their profitability, through the interaction of people and social groups in a natural ecosystem, becomes important. To this end, the provision of resources to adopt and acquire appropriate technologies is essential.

Keywords: SMEs, accounting, financial information, profitability.